Mexico is taking a bold step towards renewable energy. The goal is to reduce dependence on fossil fuels. President Sheinbaum plans to invest $5 billion in subsidies. This will help homes and businesses switch to solar power.
The program has two main parts: maintenance subsidies and a new solar panel system. People can apply for subsidies to get solar panels for their homes or businesses.
Last year was tough for Mexico’s electricity supply. A severe heatwave and drought affected the power plants. The country needs a new plan to deal with the heat.
A pilot project in Mexicali will test solar power. The government will also help people replace old air conditioners and appliances with energy-efficient ones.
Mexico wants to switch to renewable energy while keeping the power supply stable. This approach will prevent crises like those in other Latin American countries.
But there’s a hurdle: Trump’s tariffs on Chinese goods, including solar panels. Trump prefers fossil fuels and has opposed renewable energy. He even withdrew the US from the Paris Climate Agreement.
Mexico is determined to make renewable energy accessible to all. The investment will mark a big change in the country’s energy policy, combining subsidies with renewable technology to fight climate change and increasing energy demand.